Underwriter, Marine Cargo - Allianz - Singapore

Job description

Job Purpose/Role

This role is based in Singpaore. You will be responsible for underwriting profitable new and renewal business to meet Line of Business (LoB) targets. Duties include negotiating participation, pricing, and terms and conditions, as well as taking ownership of accounts and clients. You will also develop and maintain relationships with brokers and clients.

Key Responsibilities

Underwrite Profitable Business

Underwrite new and renewal accounts to meet top and bottom line targets.
Negotiate participation, pricing and terms and conditions with brokers.
Proactively manage capacity .
Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios (for relevant LoBs).

Underwriting Approach and Compliance

Underwrite in line with LoB governance framework - e.g. Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles.
Ensure contract certainty is achieved on all accounts at time of inception.
Ensure utilisation of global pricing tools.
Ensure placing and binding of FAC Reinsurance prior to policy inception.

Policy Documentation and Administration

Ensure accurate policy documentation issued to broker (where Allianz Commercial responsibility to do so) or broker has issued documentation (where broker responsibility).
File maintenance – ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled.
Proactively support completion of policy administration and credit control processes.

Market Management

Proactively support acquisition of new business and retention of existing business (including client and broker negotiations where necessary)
Proactively liaise with Distribution Management on market management initiatives

Relationship Management

Positively represent Allianz Commercial externally to the market.
Proactively drive involvement of functional areas in Underwriting process, including e.g. Distribution Management , ARC, Claims, Operations.
Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders (e.g. risk managers).

Key Experience / Requirements / Skills

Required Experience & Education

Proven track record in Underwriting profitable business in LoB. Understanding of LoB products and portfolio.
Demonstrable, established relationships with brokers at peer group level.
Good understanding of regional / local LoB insurance markets and competitor landscape.
Understanding of legal and regulatory framework.
Experience working in complex, global matrix organization.
Preferably a degree in Economics, Law, or other appropriate discipline
Progress towards professional insurance qualifcation (e.g. CII)

Technical Skills

Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB.
Pricing and Market Management: Analyze current performance against benchmarks applying how the market operates and functions, the business needs and customer needs.
Contract Drafting and Interpretation: Design, develop and implement consistent, robust wordings.
Policy Management: Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation.
The ability to utilize AI tools to support day-to-day tasks, improve efficiency, and contribute to data-driven decision-making is valuable.

General Skills

Communication skills: Clearly and effectively express ideas and messages via speech or writing.
Influencing skills: Ability to persuade and motivate others to act, without executive authority.
Analytical Skills: Ability to effectively absorb information from various sources, then analyze, study or examine data in detail, and draw appropriate conclusions.

Languages

Fluent in English. Fluency in any other local language is a plus.

Offers “Allianz”

Job description